Clever Leaves (CLVR) Regains Nasdaq Compliance

Clever Leaves Holdings Inc. (NASDAQ: CLVR, CLVRW) announced that it received notice from The Nasdaq Stock Market LLC ("Nasdaq") on September 11, 2023 informing the Company that it has regained compliance with the minimum bid price requirement under Nasdaq Listing Rule 5550(a)(2) (the "Rule") for continued listing on the Nasdaq Capital Market.

On September 29, 2022, Clever Leaves received notice from Nasdaq that the Company was not in compliance with the Rule, as its common shares failed to meet a closing bid price of $1.00 or more for 30 consecutive business days. Clever Leaves received an additional 180 calendar day period to regain compliance on March 29, 2023, and the Company conducted a 1-for-30 reverse split of its common shares with marketplace effectiveness on August 25, 2023 to aid the compliance process.

To regain compliance with the Rule, the Company’s common shares were required to maintain a minimum closing bid price of $1.00 or more for at least 10 consecutive business days. This requirement was met on September 8, 2023.

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